Success in today’s information economy rests on productive human interactions and well-informed decisions. The availability of
the right information at the right time, in context of someone’s role and task
determines a worker’s productivity. Companies need ways to reduce complexity and enhance the cohesiveness of disparate information sources, while simultaneously ensuring compliance and regulatory requirements. Here are the core trends that procide the context for Viprocom’s solutions
Trend # 1: Information Overload and Fragmentation:
As data has gone digital over the past few decades, data volume has grown exponentially, leading to data abundance. Particularly information workers have found themselves inundated with data. At the same time information is fragmented across disparate locations such as conventional locations, such as CRM or ERP systems, databases, collaboration spaces or PC’s as well as in the “cloud”. As a result of those trends, worker productivity is lost. Complex decisions suffer when relevant information from multiple sources cannot be integrated into a single view. Furthermore, internal compliance or regulatory requirements are not met, and in worst case scenarios, regulatory fines, disruption in operations and damage to a company’s reputation result.
Trend #2: Information Relevance:
The need for information relevance grows in line with data volume and fragmentation. According to an Accenture study, managers spend up to two hours a day searching for information, and more than 50% of the information they obtain “has no value to them.” The same study also states that 59% of managers said that “as a consequence of poor information distribution, they miss information that might be valuable to their jobs almost every day because it exists somewhere else in the company and they just cannot find it.” In order to get information about competitors, customers, project responsibility or another department, managers have to go to three different sources, on average. The negative effects of information overload, fragmentation and lack of relevance are compounded in today’s increasingly global business operations that promote complexity. Trend #3: The “Interactions Revolution”
According to a recent McKinsey study, “more 21st century companies have greater need for workers who can interact with other companies, their customers, and their suppliers as they come to specialize in core activities and outsource the rest.” The growth of those interactions represents a “broad shift in the nature of economic activity” and a vast part of the workforce and “now consists of people who largely or wholly spend their time interacting”. The firm’s new research on top trends in a number of sectors suggests that companies are hiring more workers for complex interactions that require people to deal with ambiguity and to exercise high levels of judgment. Those jobs are to a high degree very dependent on accurate and timely information. 70% of all U.S. jobs created in the last 10 years require a high degree of judgment and experience. These jobs now make up 41% of the labor market in the US. Making those workers productive is a critical competitive differentiator by boosting the quality, speed and scalability of the decisions they make.